At an adjourned meeting of the Federal

. Reserve Board held in the office of the Board at

3:00 p. in., on Fl.iday, January 7,

PRE3ENT:

Mr. Hamlin, presiding Mr. Warburg

Mr. Delano Mr. Harding

Mr. Williams Mr. Miller

Mr. Willis, Secretary.

The minutes of the morning and afternoon

meetings of January 5, and the minutes of the meet-

ing of January 6, were read and approved.

Ur. Hamlin presented some correspondence

with the Treasury Department relating to the atti-

tude of the Federal Reserve Bank of Chicago as to

absorption of exchange charges. The matter was re-

ferred to Mr. Delano with power to act.

On motion it was voted that the following

persons be re-designated as chairmen and Federal re-

serve agents of their respective banks for the com-

ing years

Frederic H. Curtiss, Federal Reserve Bank

of Boston.

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19

Pierre Jay, Federal Reserve Bank ofNew York.

Richard L. Austin, Federal Reserve Bankof Philadelphia.

D. C. Wills, Federal Regerve Bank ofCleveland.

William Ingle, Federal Reserve Bank ofRichmond.

M. B. Wellborn, Federal Reserve Bank ofAtlanta.

C. H. Bosworth, Federal Reserve Bank ofChicago.

William McC. Martin, Federal Reserve Bankof St. Louis.

John H. Rich, Federal Reserve Bank ofMinneapolis

John Perrin, Federal Reserve Bank ofSan Francisco.

On motion it was voted that the following

persons be redesignated as vice chairmen and deputy

Federal reserve agents of their respective banks:

Walter S. Hackney, Federal Reserve Bank ofBoston.

L. H. Treadway, Federal Reserve Bank ofCleveland.

James A. Moncure, Federal Reserve Bank ofRichmond.

W. F. McLallen, Federal Reserve Bank ofChicago.

T. C. Tupper, Federal Reserve Bank ofSt. Louis.

Edward T. Brown, Federal Reserve Bank ofAtlanta.

The Secretary of the Board reported the sub-

stance of a conversation with Governor Strong of Now

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York relative to the date of the next conference

of Governors.

A report from Mr. Miller relative to the

cost of shipping Federal reserve notes back to the

bank of issue, was referred to the Committee on Law

with aid of Counsel.

An adverse report prepared by Mr. Warburg

relative to the purchase of acceptance in St. Louis

drawn against goods in process of manufacture, was

received and approved.

On motion it was voted to ask Federal re-

serve banks when writing to the Comptroller of the

Currency with reference to issue of Federal reserve

bank notes, to send a copy of the correspondence to

the Board.

The Secretary of the Board read a telegram

from Mr. William F. Ramsey of Austin, Texas, accept-

ing the appointment as chairman and Federal Reserve

Agent of the Federal Reserve Bank .of Dallas.

The Secretary of the Board read a letter

from the Federal Trust Company of Boston addressed

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to Mr. Hamlin, asking the Latter to write the bank-

ing commissioner of Massachusetts in favor of per-

mitting the investment of trust company funds in

South Arlierican securities.

A letter from Federal Reserve Agent Curtiss

relative to the collection of cotton drafts in Boston

having been read, it was ordered that a copy be sent

to the persons who had complained of the practice in

Boston.

On motion at 4:07 p. in. the Board adjourned

to meet on Tuesday, January 11, at 3:00 p. m.

APPROVED:

Secretary.

Chairman.

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